Jefferies Group LLC Reiterates “Buy” Rating for LKQ Co. (LKQ)
Jefferies Group LLC reissued their buy rating on shares of LKQ Co. (NASDAQ:LKQ) in a report issued on Sunday morning. The brokerage currently has a $43.00 target price on the auto parts company’s stock.
Several other research firms also recently commented on LKQ. Northcoast Research downgraded shares of LKQ from a buy rating to a neutral rating in a report on Tuesday, July 25th. BidaskClub downgraded shares of LKQ from a buy rating to a hold rating in a report on Wednesday, July 12th. Stifel Nicolaus reiterated a buy rating and issued a $37.00 price objective on shares of LKQ in a report on Thursday, July 6th. Susquehanna Bancshares Inc reiterated a positive rating and issued a $40.00 price objective (up from $38.00) on shares of LKQ in a report on Monday, July 31st. Finally, FBR & Co reiterated a buy rating and issued a $41.00 price objective on shares of LKQ in a report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $40.67.
LKQ (NASDAQ:LKQ) last released its quarterly earnings data on Thursday, October 26th. The auto parts company reported $0.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.03. LKQ had a net margin of 4.85% and a return on equity of 12.43%. The firm had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same period in the previous year, the company earned $0.41 earnings per share. The company’s quarterly revenue was up 11.7% on a year-over-year basis.
In related news, VP Victor M. Casini sold 25,000 shares of the company’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $36.82, for a total value of $920,500.00. Following the transaction, the vice president now directly owns 213,884 shares in the company, valued at $7,875,208.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Guhan Subramanian purchased 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The stock was acquired at an average price of $33.96 per share, for a total transaction of $135,840.00. Following the completion of the purchase, the director now directly owns 23,811 shares of the company’s stock, valued at approximately $808,621.56. The disclosure for this purchase can be found here. Corporate insiders own 1.10% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of LKQ. Teachers Advisors LLC lifted its position in LKQ by 0.6% during the first quarter. Teachers Advisors LLC now owns 378,951 shares of the auto parts company’s stock worth $11,092,000 after purchasing an additional 2,270 shares during the period. Dimensional Fund Advisors LP lifted its position in LKQ by 27.7% during the first quarter. Dimensional Fund Advisors LP now owns 2,142,256 shares of the auto parts company’s stock worth $62,706,000 after purchasing an additional 464,504 shares during the period. Renaissance Technologies LLC lifted its position in LKQ by 35.6% during the first quarter. Renaissance Technologies LLC now owns 648,460 shares of the auto parts company’s stock worth $18,980,000 after purchasing an additional 170,200 shares during the period. Green Square Capital LLC lifted its position in LKQ by 4.4% during the first quarter. Green Square Capital LLC now owns 78,127 shares of the auto parts company’s stock worth $2,287,000 after purchasing an additional 3,303 shares during the period. Finally, Meridian Wealth Management LLC bought a new stake in LKQ during the first quarter worth about $629,000. 92.56% of the stock is owned by institutional investors and hedge funds.
LKQ Corporation (LKQ) is a distributor of vehicle products, including replacement parts, components and systems used in the repair and maintenance of vehicles, as well as specialty vehicle products and accessories, and automotive glass products. The Company’s segments include Wholesale-North America; Europe; Specialty, and Self Service.
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